skuld Charterers' Cover terMs & CoNdItIoNs - Extranet - Skuld

Charterers’ cover TERMS & CONDITIONS
MISCELLANEOUS
27. TIME LIMITS
Any claim against Skuld shall be waived and time barred unless,
27.1. the Assured gives notice to Skuld of any Event which may give rise to a claim on Skuld within
six months of the Assured becoming aware of that Event, and
27.2. the Assured commences proceedings against Skuld in respect of that claim,
a) within six months of receiving written notice from Skuld stating that the claim has been
rejected,
b) within three years of the end of the calendar year during which the Assured first
received sufficient information to enable Assured to submit a claim to Skuld, or
c) in the absence of such information, within ten years of the date of the Event giving
rise to the claim unless the claim is dependent upon litigation or a general average
adjustment still in progress at the expiry of the ten-year period, in which case
that period will be extended until one year after the issue of the final judgment or
adjustment, whichever first occurs.
28. PROVISION OF SECURITY
Skuld shall be under no obligation to provide security on behalf of the Assured.
29. WAIVER
Skuld Charterers’ Cover – Terms & Conditions, from 20.02.2012
In the absence of an express written confirmation of cover by Skuld, no act (including the provision
of security, payment of any sum or handling of any claim) or omission or delay by Skuld shall be
treated as a waiver of Skuld’s rights or acceptance of cover. If Skuld provides security, incurs
costs, or makes any payment in respect of a claim or dispute which turns out not to be covered, the
Assured shall indemnify Skuld.
30. SUBROGATION
Where Skuld makes any payment in respect of any liability or costs, it shall be subrogated to the
rights of the Assured or Co-assured and any recovery shall be passed to Skuld which shall be
entitled to deduct a sum up to the amount paid by Skuld before any balance is credited to the
Assured.
31. EXEMPTION OF LIABILITY
Skuld, its officers and employees shall not be liable in respect of any act or omission of Skuld, its
officers, employees, correspondents, agents, representatives, lawyers, experts, surveyors or other
party employed or appointed by Skuld, whether or not negligence is involved.
20